Mallya approaches SC against confiscation of properties

London: Indian tycoon Vijay Mallya, high Court appeal against extradition to India to face fraud charges at the Royal Courts of Justice in London, Tuesday, July 2, 2019. Mallya, whose business empire once included Kingfisher beer, left India two and a hal

Embattled liquor tycoon Vijay Mallya on Saturday approached the Supreme Court seeking a stay on the confiscation of properties owned by him and his relatives.

In the petition, Mallya has said that no other properties other than that of Kingfisher Airlines facing cases of alleged irregularities should be attached.

On July 11, the Bombay High Court had refused to grant a stay on proceedings before a special court on confiscation of Mallya's properties.

The division bench of the court had dismissed an application filed by Mallya last month, seeking a stay on the proceedings before the special court hearing cases pertaining to the Prevention of Money Laundering Act (PMLA).

On January 5 this year, the special PMLA court here declared Mallya a fugitive economic offender. The court then started proceedings for confiscation of his properties.

Mallya, who is currently in the UK, has been charged by the Enforcement Directorate (ED) of defaulting on bank loans to the tune of Rs 9,000 crore.

He is also facing an extradition trial in UK.

Comments (+)